Republican-rules capitalism doesn't work

How much more proof do we need that “Republican-rules” capitalism doesn't work?

With Labor Day approaching, Robert Reich looks at the bad economy and the widening wealth gap.


“The good news this Labor Day: Jobs are returning. The bad news this Labor Day: Most of them pay lousy wages and low if non-existent benefits. ...

So if wages have flattened or declined for the bottom 60 percent, yet productivity has increased, where have the gains gone? Mostly, to corporations and the very rich.”


Reich calls for an increase in the minimum wage so that it's $10.50 - $15.00, depending on cost of living in a given area.


Republican arguments against the increase are shot down, as anyone who reads the whole article will see.

http://www.huffingtonpost.com/robert-reich/minimum-wage-increase_b_3816534.html

 

Actually what this proves is that obamanomics doesn't work.

 

... equals RIGGED system.

 

Republicans aren't in power.... Democrats get all the credit/blame for the last 4-1/2 yrs. Just like Bush did when he was in office.

If Dems had elected someone who knew how to lead, the Rep's hands would be tied.

Another case of looking for someone to blame because you elected a loser.

*boo hoo*

 

I'm not for what some might consider "republican rules" capitalism.

However claiming that artcle shoots down arguments is silly. For the most part it just uses bald assertions, some of which are silly.

-That the workers can't be replaced by robots? The works are ALREADY being replaced by robots at their current wages (been to a supermarket recently? )

-Claiming prices won't go up? Sure they have to stay competitive, but if they're all dealing with a price increase they're all going to be raising prices.

I'm not even saying that it's catagorically a bad idea to have a minimum wage, I'm just saying lets not accept such idiotic statements and be serious about the drawbacks.

 

so for the last 5 years republican obama has done a bad job? is that what you are saying Jeff?

 

The OP is a bot...roboposter of the democrats propaganda machine...incapable of original thought, or honest debate. Any reply from him will go along the lines of illogical thought, or irrational thinking...blah blah blah. The poster has no original thought process. Basically nothing more than a cave man....Democrat good, Republican bad...etc..

 

Don't worry about the billions of dollars in off shore accounts, or having 5 hotel sized houses... just give them one more tax break and the money will start trickling down.

 

If one were to have billions of dollars in offshore accounts...tax policy wouldn't apply to them would it? In fact, if they have some of their money still domestically that would be subject to taxation, wouldnt a higher rate encourage them to put more of it into offshore accounts?

 

The Republicans have the House where most of the regulation and economic policy is done.

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Then they'll fit in nicely here where we have a wealth of cavemen and cavewomen for all sides. Surely you don't just condemn the Democrats cavemen and not the cavemen for the others, right?

 

I was honestly just joking about trickle down economics, not necessarily making a serious operational statement. But you are correct, increasing taxes on the wealthy would not do much except make them store more money away in tax shelters.

 

When the poster can complete an original though of his own can we call it evolution then? Frankly I think both sides of the aisle are bufoons looking to do nothing more than line their pockets, just about any thread on this forum breaks down to monkey see monkey do.l We can go round and round about this all day.

 

Until we end REAGANOMICS there is no such thing as Obamanomics. Write your Republican legislators and ask them to stop blocking attempts to repeal Reaganomics, which we have been practicing for 30 years.

A repeal of Reaganomics would mean a return to the 70% tax on the top layer of income of the super rich and the re-institution of laws like Glass-Steagal that used to prevent the financial industry from running wild.

 

No, what it proves is that the Reaganomics/Radical Reactionary Economics that the Republicans party has foisted upon the American people over the last 35 years has been an economic disaster. Overall for about 70% of workers in the U.S. wages have been stagnant since 1980, when inflation is taken into account, they have lost ground.

 

With exception of government programs that rig the economy that Obama supports, do you have any other examples?

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No wages have been climbing, the Reagan years being some of the best, the Gingrich years were also good. It is just that things under Obama have been so bad all those gains were erased.

 

Republicans have sabotaged or prevented all attempts to get this economy back on track. They have been totally obstructionist and they have not proposed one new program that would actually improve job creation. They would rather see this nation fail than work with the Administration or the Democrats to get things working properly. They have only one mantra, their way or the highway. To me that is tantamount to treason.

 

What percentage of income tax did the rich pay back then? How much now?

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Name on program worth of passing the republicans blocked. Are you talking about another Obama free cash giveaway? We lost more jobs last time they did that then what we lost in the recession.

Do you believe obamacare is the reason 75% of Obama jobs are part time? If not, why not?

 

There have been a number. One was an act which would have assisted veterans in getting jobs, voted down by the Republicans. They have also refused to vote on a number of senate passed bills, and refused to even go to conference on bills that both houses have passed with differences, including a budget bill. The republicans themselves have not passed one bill in the house that would actually create any new jobs, just transfer wealth to the richest one percent.

 

The facts do not support your claim.

http://money.cnn.com/2011/02/16/news/economy/middle_class/index.htm

http://www.nytimes.com/interactive/2012/10/24/us/politics/income-stagnation-and-inequality.html?_r=0

http://www.motherjones.com/politics/2011/06/speedup-americans-working-harder-charts

 

How would it actually help vets get jobs?

Keystone pipeline was passed. Obamacare repeal would create lots of jobs, they passed that too a few times. Also there is the Paul Ryan budget. Also would create jobs.

 

Again, your charts show very strong growth during the Reagan years. Please check them out before giving me the top 3 google links. Or better yet, post real personal median income number from the time Reagan entered and the time he left office. Then we can just subtract and see who is wrong.

 

Who caused the widen wealth gap in the economy? Wasn't things going strong before NAFTA and Free Trade? Didn't we have plenty of good paying Middle Class jobs?

 

Things got better after NAFTA If anything. PPP went up. Every dollar sent overseas comes to back to us. If not, we are getting their stuff for free. Even better.

 

Here is a new industry-by-industry analysis of US/Mexico Manufacturing trade before and after NAFTA.

With the Manufacturing sector in crisis as the US enters a new recession, you may find of interest my attached analysis of US/Mexico Manufacturing and other goods trade for the three years before Nafta compared with the most recent three years.

In the three years prior to Nafta, 1991-1993, the US Manufacturing sector enjoyed a combined surplus of $19.2 billion with Mexico. However, over the most recent three years, 2005-2007, US Manufacturing continued to suffer successive record deficits totaling -$188.3 billion for the three years. Note that the US Manufacturing deficit with Mexico now far exceeds even the US deficit with Mexico for Mineral Fuels. Indeed, in 2007 the US deficit with Mexico in Electrical Machinery alone was larger than the US deficit with Mexico in Mineral Fuels.

Read more
http://www.economicpopulist.org/content/manufacturing-trade-after-nafta

 

U.S. Economy Lost Nearly 700,000 Jobs Because Of NAFTA, EPI Says


www.huffingtonpost.com/.../nafta-job-loss-trade-deficit-epi_n_859983.h...‎



May 12, 2011 - When the North American Free Trade Agreement was first signed in 1994, proponents said it would eventually create jobs for the U.S. ...